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December 29, 1999

365 Buys e-Merchants for $1.65m

By CBR Staff Writer

365 Corp Plc, the UK sports content provider, announced last week its intention to buy US rugby web site operator, e-Merchants Inc for $1.65m in cash and shares. E-Merchants owns and operates the web site, which has 43,000 unique users.

Although rugby is clearly not the most popular sport in America, 365 reckons a user base in and editorial focus on this first-tier internet country is worth snapping up. RugbyRugby also has an arrangement with sports TV station Fox Sports World where it provides the official site for Fox rugby coverage and is promoted during televised rugby events.

The deal is for $250,000 cash, with the remainder in shares, plus an additional payment of 208,333 shares of 365 to be made if certain financial targets are met in financial 2000.

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